Daily Current Affairs – 22nd July 2015, Wednesday

1. The union Government extended Interest Subvention to all PSB’s, Private Sector commercial Banks and RRB’s

(i) The union cabinet, keeping in view, the uncertainty of rains and its impact on farmers has decided to extend the subsidy offered on interest rates to farmers for 2015-16 and increase the budget allocation for interest subvention.

(ii) The cabinet decided to increase the allocation for this year to Rs.18,110 crore, Rs.15,778 crore of which will be used to subsidise loans given by state-run banks. The remaining amount will be used by National Bank for Agriculture and Rural Development (Nabard) to refinance loans given by regional rural banks and cooperative banks.

2. Scientific Study attributes Radiative impact of volcanic aerosol in lowermost stratosphere for slowing global warming

(i) A study published by a team of international researchers which was published in the Journal Nature Communications in July 2015, has attributed the slowing down of global warming to the Radiative impact of volcanic aerosol in the lowermost stratosphere.

(ii) The scientist said the volcanic aerosols have acted as a natural umbrella for the last decade, helping to slow down global temperature increase from greenhouse gases.

3. India and Singapore sign key agreement to boost Maritime Cooperation

(i)India and Singapore, signed an agreement on sharing white-shipping information to enhance maritime cooperation between the two navies today.

(ii) Indian Navy Chief Admiral R K Dhowan held talks with top official in Singapore Navy where he signed a Technical Agreement (TA) on sharing white-shipping information, which will enhance maritime information sharing between the two navies.

(iii) White-shipping refers to commercial shipping information about movement of cargo ships.

4. BCCI announced venues for ICC T20 WC 2016

(i) The Board for Control of Cricket in India (BCCI) has announced the venues for the Men and Women ICC World Twenty-20, 2016. The matches will be held from March 11 to April 3, 2016, across eight cities.

(ii) Matches will take place across Bengaluru, Chennai, Dharamsala, Mohali, Mumbai, Nagpur, New Delhi and Kolkata, and Kolkata’s Eden Gardens will host the finals.

(iii) One of the semi-finals will be held in Mumbai, the other might be held in Delhi. In case, the semi-final is not held in Delhi then it will host a marquee match like India versus Pakistan.

5. Maurice Obstfeld appointed as Chief Economist at IMF

(i) Maurice Obstfeld has been appointed as the new chief at the International Monetary Fund (IMF) succeeding Olivier Blanchard.

(ii) Maurice Obstfeld has both exceptional academic and professional experience as a professor at the University of California, Berkeley and as an adviser in Barack Obama’s Council of Economic Advisers.

(iii) In addition, he is known for his popular textbook which he wrote in association with Kenneth Rogoff of Harvard University-“Foundations of International Macroeconomics” which continues to serve as a foundational book for students pursuing Masters Macroeconomic studies.

6. Ananth Narayanan appointed as CEO of Myntra

(i) Ananth Narayanan, Former McKinsey director was appointed as the CEO of Myntra, a fashion store owned by flipKart.

(ii) He is to succeed Myntra’s co-founder Mukesh Bansal and shall assume charge from its October 2015.

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